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Due to the available OASDI credit the HIRE act created, there will be multiple revisions to the 941 form this year. The credit is not available to take in the 1Q so the 1Q 941 is the same as the 2009 form except for the year. 2Q will have a new form that will have […]
Payroll Tax Incentives in New Jobs Bill Quick overview of two key tax changes affecting businesses in the recently enacted Hiring Incentives to Restore Employment (HIRE) Act. To help stimulate the hiring of workers by the private sector, the new law exempts any private-sector employer that hires a worker who had been unemployed for at […]
Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation. This limit increases each year with increases in the national average wage index. We call this annual limit the […]